What is debt management ?
Debt Management is a system to help those in debt become
debt free. Our Debt Management Plan is a simple, systematic
way of dealing with your debts.
Our clients pay us a single, monthly fee and we then
distribute this between each of their creditors. This
means all their debts are consolidated into one single,
affordable payment. Not only are they consolidated into
one monthly payment, in almost all cases we can reduce
the total amount they pay each month by up to 75%. This
is due to the fact that their creditors know they have
a debt management company working on their behalf and
we can work to get the creditors to lower or freeze
their interest rates. Also, they no longer have the
stress of dealing with their creditors; we do it for
them!
The simple payment they pay is based on their income
and expenditure. This means that legitimate living expenses
such as mortgage, phone and food are removed from their
income so they only pay what they can afford.
Difference between debt management
and debt consolidation
The principle behind a debt consolidation loan is that
if a person owes money to multiple creditors, they borrow
a large, lump sum to repay their creditors and are then
left with one creditor and one monthly repayment. The
idea is that the repayments on this single, larger loan
will be lower than the sum they are currently paying.
This works very well if the person can easily afford
the repayments and they are just looking for a way to
simplify things and bring down the interest rates. However,
there are many people that struggle to meet the repayments
each month. Some of these even find that their outgoings
each month exceed their income. These people are classified
as being in debt and a debt consolidation loan will
not actually get them out of debt and will not alleviate
the problem. A debt management plan is a method for
reducing their debt and allowing them to become debt
free. It will consolidate all their repayments into
a simple monthly payment and it does not involve them
taking out another loan.
Who are we?
We offer debt help. We are Office of Fair Trading registered
and are licensed debt adjusters. We are also data protection
registered. This means that we are qualified to give
quality, confidential debt advice and credit counselling.
We have an experienced team and we pride ourselves on
providing quick and effective debt management solutions.
We operate on a national basis throughout the UK. We
deal with debts ranging between £3000 and £250,000.
To
apply for debt management, or simply for free debt advice,
click the button below and
use the form to send us your details. We look forward
to assisting you.
Welcome Finance
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